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July 25, 2008 8:04:47 AM CDT

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Stories related to: subprime crisis

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Stories 61 - 80 of 96

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  • March 2008

    • Economy in Trouble: Bush

      newser  |  Associated Press  |  Mar 14, 08 3:00 PM CDT

      Economy in Trouble: Bush

      The economy is experiencing difficulties, but President Bush said today he is certain a recovery will come soon, the AP reports. “In a free-market economy there will be good times and bad times” he said in a speech to the Economic Club of New York. “We’re going through a hard time.” Democrats wasted little time in rebutting, dispatching Chuck Schumer to invoke Herbert Hoover. More »

      Tags

      George W. Bush  • Congress  • Federal Reserve  • recession  • subprime crisis  • economy  • stimulus package

    • 'Perfect Storm' Batters US Economy

      newser  |  New York Times  |  Mar 14, 08 12:30 PM CDT

      'Perfect Storm' Batters US Economy

      A perfect storm of economic maladies has the US economy reeling on the edge of recession and officials struggling to limit the damage it causes, reports the New York Times. But many economists say there isn’t much the government or policy makers can do besides batten down the hatches and, in the words of a Charles Schwab analyst, “let the system wash it out.” More »

      Tags

      stock market  • housing crisis  • subprime crisis  • economy  • mortgage crisis

    • JP Morgan, Feds Bail Out Bear Stearns

      newser  |  Wall Street Journal  |  Mar 14, 08 9:25 AM CDT

      JP Morgan, Feds Bail Out Bear Stearns

      Bear Sterns has reached out to rival JP Morgan Chase and the Federal Reserve Bank of New York for emergency funding to reassure investors concerned about the struggling investment bank's deteriorating liquidity, the Wall Street Journal reports. The move is a startling indicator of how hard the subprime virus has hit US credit markets and financial firms. More »

      Tags

      Wall Street  • subprime crisis  • Bear Stearns  • JPMorgan Chase  • liquidity  • Federal Reserve Bank of New York  • Alan Schwartz

    • Hotline for At-Risk Loans Not So Helpful

      newser  |  MSNBC  |  Mar 13, 08 3:46 PM CDT

      Hotline for At-Risk Loans Not So Helpful

      A hotline aimed at helping distressed mortgage borrowers is frequently overwhelmed by caller volume and rarely able to provide substantive aid, MSNBC reports. The Hope Now Alliance—a group of lenders and community groups heavily promoted by President Bush—is designed to improve lender-borrower communication and modify mortgages, most commonly interest-rate freezes on adjustable-rate mortgages. More »

      Tags

      George W. Bush  • subprime crisis  • foreclosure  • mortgage crisis  • mortgage  • mortgage backed securities  • mortgage lender

    • Home-Equity Loans Latest to Bite Banks

      newser  |  Wall Street Journal  |  Mar 12, 08 12:03 PM CDT

      Home-Equity Loans Latest to Bite Banks

      Home-equity loan defaults are soaring, the Wall Street Journal reports, as the trickle-down effect of the subprime mortgage crisis makes its way into what was once a source of big profits for lenders. JP Morgan Chase and Wells Fargo both escaped major writedowns on subprime mortgages gone bad, but already are feeling the pain from home-equity losses. More »

      Tags

      housing crisis  • subprime crisis  • Bear Stearns  • JPMorgan Chase  • Wells Fargo  • Washington Mutual  • National City  • SunTrust Banks

    • FBI Probes Countrywide for Fraud

      newser  |  Wall Street Journal  |  Mar 9, 08 5:00 AM CDT

      FBI Probes Countrywide for Fraud

      The FBI has launched a securities fraud investigation against subprime mortgage lender Countrywide Financial for allegedly lying to investors about its financial status and the quality of its mortgage loans, reports the Wall Street Journal . The probe could extend to Wall Street firms that helped package more than $100 billion in mortgage-backed securities for Countrywide over the past three year s . More »

    • Subprime Lender CEOs Defend Exec Pay

      newser  |  New York Times  |  Mar 7, 08 3:50 PM CST

      Subprime Lender CEOs Defend Exec Pay

      Banking executives who took home huge paychecks even as the subprime mortgage crisis battered their companies appeared before Congress today to defend their actions. Democrats on the House Oversight Committee grilled them about their enormous pay packages as Republicans apologized to them and questioned the premise of the hearing, the New York Times reports. More »

    • House Hits High Bonuses at Strapped Companies

      newser  |  Associated Press  |  Mar 7, 08 7:53 AM CST

      House Hits High Bonuses at Strapped Companies

      A House committee wants to know why the CEOs of three companies mired in the subprime crisis collected massive bonuses as their firms bled billions, AP reports. The targets include Merrill Lynch, Citigroup, and Countrywide, all of which posted stunning losses last year. Countrywide CEO Angelo Mozilo and the former CEOS of Merrill and Citigroup, Stanley O'Neal and Charles Prince, will be on the hot seat. O'Neal and Prince were fired, but pocketed hefty payouts on the way out. More »

    • Investors Angered as WaMu Shields Exec Bonuses

      newser  |  Wall Street Journal  |  Mar 5, 08 8:53 AM CST

      Investors Angered as WaMu Shields Exec Bonuses

      Washington Mutual’s directors have decided to limit the hit its executive management team can take from the subprime credit fiasco, setting cash bonus targets that exclude costs from foreclosures and mortgage-related losses, reports the Wall Street Journal. The move angered some shareholders who’ve seen their investment shrink as WaMu’s stock plunged 70% in the past year. More »

      Tags

      housing market  • subprime crisis  • shareholders  • executive compensation  • Washington Mutual  • bonuses  • WaMu

    • One Million Going Bankrupt

      newser  |  Reuters  |  Mar 4, 08 4:28 AM CST

      One Million Going Bankrupt

      More than a million Americans are headed for bankruptcy in 2008, mostly due to crippling household debt, according to the American Bankruptcy Institute. There were 76,120 bankruptcy filings last month—a 37% increase over February last year, and the biggest monthly spike since the change in personal bankruptcy laws in 2005. February's filings were up 15% over January. More »

      Tags

      US economy  • subprime crisis  • bankruptcy  • Chapter 13

    • Credit Crunch Ups Price of College Loans

      newser  |  Washington Post  |  Mar 3, 08 2:40 PM CST

      Credit Crunch Ups Price of College Loans

      Even as college costs soar, the credit crunch is about to make student loans more expensive—and tougher to come by. Fees for federally guaranteed loans, which offer below-market rates, are expected to rise, and some states have dropped out of the program. At least a dozen private firms have already abandoned the student market, and those rates will rise even faster, the Washington Post reports. More »

      Tags

      credit crisis  • subprime crisis  • education  • college  • university  • debt  • federal loans  • Stafford loan

    • Shakeup May Signal E*Trade's Availability

      newser  |  Wall Street Journal  |  Mar 3, 08 10:48 AM CST

      Shakeup May Signal E*Trade's Availability

      E*Trade Financial, stung by mortgage- and mortgage-backed securities market losses, is adding CEO to chairman Donald Layton's duties. The company may be dolling itself up for a possible sale by polishing its tarnished image, the Wall Street Journal reports. Since Layton, 57, became chairman in November, the brokerage has rebounded from a $1.7 billion fourth-quarter loss. More »

    • Yen Pounds Dollar as Markets Fall

      newser  |  Reuters  |  Mar 3, 08 5:42 AM CST

      Yen Pounds Dollar as Markets Fall

      The dollar’s skid accelerated today, taking it to a three-year low against the Japanese yen, and pushing the free-falling greenback to a record bottom against the Swiss franc and other currencies amid worries that subprime woes will worsen, Reuters reports. Worldwide, stocks dove lower on broad concerns about the US economy. More »

      Tags

      subprime crisis  • stocks  • US dollar  • currency exchange  • Yen

    • Wall Street Faults Rules on Writedowns

      newser  |  Wall Street Journal  |  Mar 1, 08 12:09 PM CST

      Wall Street Faults Rules on Writedowns

      After months of staggering writedowns battering Wall Street, some investors and executives are charging that accounting rules are exaggerating losses and triggering slumps like yesterday’s 315-point plunge in the Dow, reports the Wall Street Journal . Rules requiring companies to value holdings at current market rates, no matter how volatile, have a domino effect, they say: "The market falls, forcing banks to take write-offs, pushing the market lower, causing more write-offs," the Journal writes. More »

      Tags

      Federal Reserve  • Wall Street  • subprime crisis  • investors  • UBS  • AIG  • write down

  • February 2008

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